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Old 04-14-2015, 10:01 PM
 
Location: Las Vegas, Nevada
628 posts, read 492,233 times
Reputation: 1888

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Finally! A CEO who gets it. I think it is great what this guy did and if there is any way I can support his business, I will. Kudos to Dan Price.

CEO raises employees' minimum salaries to $70,000, cuts his own - www.ktnv.com
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Old 04-14-2015, 10:19 PM
 
23,851 posts, read 19,842,078 times
Reputation: 9383
You realize that something like this is only possible in a small company where there are few employees, right? If your desire is to see this happen at large companies with thousands of employees, then you are destined to be disappointed. Mathematically impossible.
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Old 04-14-2015, 10:30 PM
 
2,409 posts, read 2,637,555 times
Reputation: 1807
Quote:
Originally Posted by AeroGuyDC View Post
You realize that something like this is only possible in a small company where there are few employees, right? If your desire is to see this happen at large companies with thousands of employees, then you are destined to be disappointed. Mathematically impossible.
Steve Jobs cut his salary to $1. Apple is not that small.
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Old 04-14-2015, 10:38 PM
 
6,981 posts, read 4,453,355 times
Reputation: 5141
Quote:
Originally Posted by AmFest View Post
Steve Jobs cut his salary to $1. Apple is not that small.
Its easy to cut your salary to a buck if you don't need the money.
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Old 04-14-2015, 10:43 PM
 
Location: mainland but born oahu
6,657 posts, read 6,418,101 times
Reputation: 3122
The fact that companies with hundreds and thousands of employees can pay a CEOs millions in salery and pay payrolls is kinda a testament that money isn't an issue.
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Old 04-14-2015, 10:54 PM
 
2,409 posts, read 2,637,555 times
Reputation: 1807
Quote:
Originally Posted by wall st kid View Post
Its easy to cut your salary to a buck if you don't need the money.
This CEO is the founder. If the company succeeds he will make big time money. Probably doesn't need much of a salary either.
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Old 04-14-2015, 11:00 PM
 
32,437 posts, read 26,292,401 times
Reputation: 19032
Quote:
Originally Posted by AmFest View Post
Steve Jobs cut his salary to $1. Apple is not that small.
it also helps that the company pays for his expenses. and steve jobs is also quite rich because of apple, and i am willing to bet that he put a lot of the money he made since starting the company into a tac free foundation that pays him to administer said foundation, and he probably gets lots of stock options from apple that he can cash in regularly as well.

as for the OP, that can work on a small scale, but try that at ford or GM and see what happens, and i dont mean just cutting the CEOs salary either.

and remember that at most corporations, the CEO is an employee of said corporation, and the board of directors sets the CEOs salary, not the CEO himself.
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Old 04-15-2015, 05:46 AM
 
23,851 posts, read 19,842,078 times
Reputation: 9383
Quote:
Originally Posted by AmFest View Post
Steve Jobs cut his salary to $1. Apple is not that small.
100% irrelevant. The issue is not cutting CEO salary. The issue is cutting CEO salary for the purpose of increasing worker's base salary. Steve Job's salary was not so big as to give every employee a gigantic raise. Why? Because the company is far too large to have any measurable impact on worker pay.

I can only assume you don't understand the math of it all.
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Old 04-15-2015, 05:50 AM
 
Location: Annandale, VA
5,098 posts, read 4,309,469 times
Reputation: 4204
Quote:
Originally Posted by AmFest View Post
Steve Jobs cut his salary to $1. Apple is not that small.

By cutting his salary to $1 he cheated the government out of thousands in income and social security taxes. Jobs gets the majority of his money from investment income just like most wealthy people.

If I ran a business that earned $1 million in profits and only paid myself $1 in salary, I would go to prison for tax evasion.
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Old 04-15-2015, 06:08 AM
Status: "Elect a clown? Expect a circus!" (set 25 days ago)
 
Location: By the sea, by the sea, by the beautiful sea
58,166 posts, read 40,950,018 times
Reputation: 29872
Quote:
Originally Posted by wall st kid View Post
Its easy to cut your salary to a buck if you don't need the money.
Or when your stock options or other perqs are worth million$
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